Please Note : If you Place a High lot on your trading account, you will become a Gambler not a trader. You will get addicted to the market by tasting the big profits with high lot. Once you got addicted for placing high lots on your trading account, it will destroy your trading life and you may get bankrupt soon. Most of the people loss their money in markets by placing High lots in Small account. If you keep placing higher lot in small accounts, you will never get rich, Only the brokers will get rich by earning commissions from your higher lot trades. Please never place high lots, Don’t compare yourself with anyone on this business. Improve your Trading skills with Forexgdp and try to trade only at good opportunities in the market.

Important notes on following our Signals and Trading with Care :

After receiving the signal

1) If market is near to our entry price around 10 to 20 pips(100 to 200 points) distance, then you still can place the trade. This situation happens when the signal seen late by you (or) the market made faster movements.

2) Never place the trade in the middle of the signal. Example : After market reaching Target 1, then please don’t place any new trades by following the signal. The reason is “your risk would be higher if you enter into the middle of the signal. Solution : if you miss to enter into the signal, no worries, you can wait for next signal to make good profits. Market will always be there for us with new good opportunities. NOTE : (Forex Market is not going to Die Tomorrow, market stay alive all the time, but if you want to stay alive in the market, you should have money. So, please trade care with proper money management to taste the permanent success in forex trading).

Holding the Trade

1) If you are holding the trade for 2 days as per the Australian time(https://time.is/Australia), please check “whether the market has already reached our Target 1 (or) not ?

If Target 1 is not reached within 2 days as per the Australian time, then close partial lot (click to see) and move your Stop Loss price to entry price for safe trading (click to see). As a short term trader, if the market don’t reach the Target 1 within 2 days, then please don’t hold the trade for long time. Use trailing stop (or) close the trade at our Entry price levels. This situation comes, when the market has a lack of liquidity (or) if market keeps moving up and down. Note : The holding period 2 days is calculated depend on Australian Country Day Time and not depend on the number of 48 hours. For example : If the signal is given at 3 p.m at Australian time (https://time.is/Australia), the 2 days expiration will be calculated depend on the signal day + next day until 11.59 p.m Please calculate the number of days depend on Australian time given here : https://time.is/Australia

2) We recommend you to keep running the profit trades for a long time and don’t keep running the losses for a long time. In simple words, Cut the losses faster and run the profit trades for a long time by using the trailing stop for safe and profitable trading. NOTE: Closing profits faster is equal to Making more losses.

Exiting the Trade

Exiting the trade is all depends on which type of trader you are ? Each trader have different mindset, So, you can choose to exit your trade at anytime with your own choice. We have given some exiting trade ideas depend on different trader’s mindset.

1) If you can’t hold the profit for a long time, you can exit the trade at Target 1.

2) If you can’t control your emotions, but you try to hold the profit for long time, you can close “Half of your trade lot size” at Target 1 and then move your Stop Loss price to Entry price for Safe trading.

3) If you can hold the profits for a long time without emotions, then you can hold the trade until final Target.

4) If you trade with more emotions, then please use trailing stop for safe trading and try to learn forex market in correct way to avoid getting more emotions.

5) Sometimes, Our Market analyst team will inform you to close the trade manually, all type of trader need to follow the analyst advice at that time.

Handling Emotions while holding the Open trades

1) While you holding your trade positions, market will always keep moving up and down. During this time, most of the beginners in forex market show their emotions (happy, sad, angry,…) depend on market movements. Please learn how to manage your emotions while trading.

2) Trading Physchology : All Human Beings are Emotional Creatures in the world. we all have emotions (happy, sad, angry, envy, etc.…) We need to manage our Emotions while trading.

3)As we all know that, Money is the most important thing in Human’s life. The Most important things in the world is always combined with emotions. Traders are all here in Forex market to make and see more money in their life. That’s the reason, Trader’s are more emotional while trading.

4)If you want to avoid some emotions while trading, just move your Stop Loss price to entry price if market goes positive on your trade. If market goes on negative, you should not worry about reaching Stop Loss price. Because, you must understand that : Stop Loss is used for Limiting the Losses, not to loss all your money in single trade, So, please don’t take more risk on a single trade by placing high lot. Take only the small risk on each trade.

5) Invest only the affordable money in the forex market to trade with less emotions. We can’t avoid the emotions 100% completely. We are not a “Monk” to live without emotions. We are just a normal Human Beings filled with emotions(Happy, sad, angry, worries, envy, etc …) You need to change your mind from Normal human being to Trader mind by learning the forex trading in correct way.

6) Trading with fixed commitments mostly leads to failure in trading. The reason is “Forex Market is not going to make a fixed movements all the time”. Example : if you are trading with EUR/USD, someday you can make +50 pips profit, someday you will make +80 pips profit and some other day you will make +30 pips profit, but, you can’t make fixed +80 pips profit all the day. It’s a very important fact, most of the beginners don’t understand until they loss all their money. Solution : Please trade forex market without expectations and trade only at good opportunities available in the market.

Solutions for controlling your Emotions :

Learn forex trading in a correct way.

Get clear mind about your trading strategy.

Invest only the affordable money.

Don’t trade with fixed commitments (Eg. Want to make 30% profit every month)

Trade without Expectations.

Don’t trade forex market all the time.

Trade forex only at good opportunities found in the market.

Different Methods to Place trades with our Signals

Method 1: Placing Multiple orders to manage your trades.

If you receive the signal with 2 Take profit Targets, then you can place 2 orders at the entry price.

Set the same stop loss for 2 orders.

Set 1st Take profit for One order and 2nd Take profit for Another order. That’s it.

Let’s see an Example :

Forex Signal : Buy GBP/JPY at 153.500

Target 1 : 154.511

Target 2 : 155.367

Stop Loss : 152.401

Consider that, you have received the above GBP/JPY signal from us.

What you need to do now ?

1)Place 2 buy orders at the entry price : 153.500

2) If you plan to place 1 lot, you can place 0.50 lot + 0.50 lot (2 orders)

3) Set 1st Take Profit target for one order and Set 2nd Take Profit Target for another order.

4) But the stop loss remains the same for both of your orders.

5)If the market moves up to Target 1, One of your order will get closed at 1st take profit. Note : The reason for closing 1st order at Target 1 is “To get Satisfaction about the Profits you made with Target 1 and even if market reverse, you don’t need to worry. because, you already earned some profit with Target 1.

6) Next, you can change your stop loss of the 2nd order to your entry price(153.500)

Now, you don’t have any risk. You just going to simply wait for the market to reach the 2nd Target (or) going to close your order at entry price.

Method 2: Placing Single Order

If you receive signal with 2 Take profit Targets, and If you placed a single order at entry price.

Then it’s possible to place One Stop Loss and One Take Profit for your single order.

Now, You may get confused, which target you can set your Take Profit for your Single order? Is it Target 1 or Target 2?

Let’s see an Example :

Forex Signal : Buy GBP/JPY at 153.500

Target 1 : 154.511

Target 2 : 155.367

Stop Loss : 152.401

Consider that, you have received the above GBP/JPY signal from us.

What you need to do now ?

1)You place a Single Buy order at the entry price : 153.500

2) Assume that you have placed 1 Lot Buy order at entry price.

3) You have set your Stop loss for your Single Buy order

4) Now, you don’t know where to set the Take profit for your Single Buy order, You want to Set your Take profit at Target 1 or Target 2 ?

5) If you are a Short term trader, you can set your Take profit at Target 1.

6) If you are a Long term trader, you can set your Take profit at Target 2.

7) If you are a short term trader, at the same time, If you want more profits in Single Trade without Risk. You can do one of the following Technique….

First Technique is, Once market reaches Target 1, you can close “Half” lot size of your trade order. To know, how to close “Half” lot size for your single order, Click here to watch this small video. (Eg.If you placed 1 lot, you can close 0.50 lot after market reaching target 1).

Second technique is, “You can move your Stop loss to your entry price and “don’t care about your trade. Because, once you set your stop loss to your entry price, you don’t have risk and there’s no loss, but you can make Big profits after market reaching Target 2. (it is completely a “No Risk” Trading Technique),To know how to move stop loss to entry price, Click here to watch this small video.

Method 3 : How to Trade the Range area Signal ?

If you receive the Range Trading Signal, You can place multiple orders in the Highlighted Ranging Area to make great profits.

Forex Signal :

Buy EUR/CAD between : 1.43758 and 1.43931

Target 1 : 1.44278

Target 2 : 1.44679

Stop Loss : 1.43419

Consider that, you have received the above Trading Signal from us.

What you need to do now ?

1)You can place One or more Buy orders between the Highlighted Ranging Area.

2) Assume that you have placed one Buy order at 1.43931 and if market moves down to 1.43800 , you can place again new Buy order.

3) Your Stop Loss should be the same for all your trade orders.

4) Now, you don’t know where to set the Take profit for your Buy orders, You want to Set your Take profit at Target 1 or Target 2 ?

5) If you are a Short term trader, you can set your Take profit at Target 1.

6) If you are a Long term trader, you can set your Take profit at Target 2.

7) If you are a short term trader, at the same time, If you want more profits in Single Trade without Risk. You can do one of the following Technique.

First Technique is, Once market reaches Target 1, you can close “Half” lot size of your Single Trade order. To know, how to close “Half” lot for your single order, Click here to watch this small video. (or) once market reaches +300 to +500 points profit, you can close half of your trade lot size and move your stop loss to entry price for safe trading. After placing the trade, if market doesn’t hit the target 1 within 2 days, then close partial lot and you can move your SL to entry price for safe trading. As a short term trader, if the market don’t reach the Target 1 within 2 days, then please don’t hold the trade for long time. Use trailing stop (or) close the trade at our Entry price levels.

Second technique is, “You can move your Stop loss to your entry price and “don’t care about your trade. Because, once you set your stop loss to your entry price, you don’t get any loss, but you can make Big profits after market reaching Target 2. (it is completely a “No Risk” Trading Technique),To know how to move stop loss to entry price, Click here to watch this small video.

NOTE : If you see the signal late and if market went in profit from entry price, then you should follow the below methods :

1) If Current Market Price is near to our entry price in 10 to 20 pips distance, then you can place a trade.

2) If Market reaches Target 1, then you should not place any trade.

We recommend you to keep running the profit trades for a long time and don’t keep running the losses for a long time. In simple words, Cut the losses fast and run the profits for long time to become a Successful Trader.

Money Management(What Volume lot size you should use on your trading account ?)

What is Money Management ? How much is the Volume Lot Size, Do I need to use on my trading account ?

According to our Money Management Rule, We recommend our Traders to use Correct Volume lot size depend on their trading account balance for making consistent profits.

What is Money Management ? How much is the Volume Lot Size, Do I need to use on my trading account ?

According to our Money Management Rule, We recommend our Traders to use Correct Volume lot size depend on their trading account balance for making consistent profits.

For example : If you have 1000$ USD balance, you can use Maximum 0.10 lot (0.02+0.03+0.05 = 0.10 lot) it should be your maximum running lot on your 1000$ trading account.

10,000$ USD balance = 1 lot maximum

20,000$ USD balance = 2 lot maximum

25,000$ USD balance = 2.5 lot maximum

If you are more emotional(tension, sad, greedy) while trading, You can change your leverage below 1:50 to control your emotions.

Hope you understand now about the simple money management rule.

This is the Good Habit and discipline need to be followed by the traders. If you have bad habits and bad discipline about the Money management, please change your habits immediately. Using high lots for small balance is risky one and it’s a very bad habit for most of the beginners in forex. Most of the traders don’t grow up to next level due to these bad habits. Once you leave the bad money management habits, you will start to see a positive results and growth on your trading account soon.

Note : If you break the money management rules and places a High lot on your trading account, you will become a Gambler not a trader. You will get addicted to the market by tasting the big profits with high lot. Once you got addicted for placing high lots on your trading account, it will destroy your trading life and you may get bankrupt soon. Most of the people loss their money in markets by placing High lots in Small account.

If you are more emotional(tension, sad, greedy) while trading, You can change your leverage below 1:50 to control your emotions.

Hope you understand now about the simple money management rule.

This is the Good Habit and discipline need to be followed by the traders. If you have bad habits and bad discipline about the Money management, please change your habits immediately. Using high lots for small balance is risky one and it’s a very bad habit for most of the beginners in forex. Most of the traders don’t grow up to next level due to these bad habits. Once you leave the bad money management habits, you will start to see a positive results and growth on your trading account soon.

Note : If you break the money management rules and places a High lot on your trading account, you will become a Gambler not a trader. You will get addicted to the market by tasting the big profits with high lot. Once you got addicted for placing high lots on your trading account, it will destroy your trading life and you may get bankrupt soon. Most of the people loss their money in markets by placing High lots in Small account.

A real story of the trader who don’t follow money management in trading :

One of the Forex trader whose name is “John” from Canada made his 500$ account to 7000$ in 3 months by his own trading method. It was his first live trading account, he turned his 500$ to 7000$ in just 3 months. John really don’t know, how he made such a great profit in short time. He wonder and starts to think “if I can turn my 500$ to 7000$ in 3 months, then If I invest 5000$, i could possibly make 70,000$ in 3 months. that’s really Wonderful. Let’s start it”

Do you think John has turned his 5000$ to 70,000$ ?

Answer : No

So, What Happened to John ? how much he really made ?

After John investing 5000$ in his trading account, he starts to do trade in a same way as he do trade on his 500$ account. He loss his 5000$ trading account in Just 3 days. The main reason is “John placed 1 standard lot on his 500$ account which turns to 7000$, Similarly, In 5000$ account, John placed 10 Lot, but his account turns to ZERO balance.

After John losing his 5000$ account, do you think John stopped his trading ?

Answer : No

The reason is “John has tasted big profits by placing high lots on his trading account, He keeps placing high lots on his trading account without knowing Correct Money Management.”

Did John got Success in Trading ?

Answer : No, John made Suicide and he was dead on April 2011 with -585,000$ Debt. He sold his home, lost his wife, children, friends and Family. because, he stay hidden by not paying back the money that he borrowed from his family members, friends and Banks.

What are the main reason for John’s Death ?

1. John didn’t follow management, Placed high lots on his trading account.

2. He got addicted to the trading by making big profits at his starting stage. (Eg. he turned his first live trading account from 500$ to 7000$ in 3 months).

3. After he turned his trading account from 500$ to 7000$, he opened a new account with 5000$ for turning his balance to 70,000$. But, he loss his 5000$ in just 3 days.

4. After he losing his 2nd trading account 5000$, he still don’t care about his 5000$ loss. He care and think only about his profits that he made for turning 500$ to 7000$.

5. Next, he keeps investing more money again and again to make the profits same like his first trading account. But, he couldn’t make big profits with high lots same like his first trading account. He always keep losing his trading accounts continuously.

6. Within 8 months of trading, he loss nearly 67,000$. He starts to think, if he have another 100,000$ account, he can recover all his previous losses. So, he borrowed money from bank first. Soon, he losses that 100,000$ too. next, he borrowed money from his friends, family and finally losses all the money in the market without learning the market in correct way.

7. John finishes his life without learning the forex market in correct way. He done a very expensive mistakes in trading (He spent -585,000$ + his life for trading).

If you are losing money in the market without knowledge, it means you are making some Expensive mistakes in trading. please try to learn the market first in a correct way, then you can start to see a consistent profits on your trading account.

As a Forex Trader, How to avoid financial accidents in your life ?

First Learn how to trade the market ? then start to do a trade. (Example: A doctor without doctorate degree can’t treat the patient in a correct way, the patient might die if doctor gives wrong medicine or inject wrong syringe. Similarly, if you want to become a Successful trader, First you should have to learn the market, keep practicing on demo account and then start to do the trading on real money. You can join in any of our trading courses to learn the forex market step by step in a correct way : https://forexgdp.com/forex-trading-course/

Invest only the affordable money and Don’t trade with fixed commitments (Example: Want to make 20% profit every month)

Get clear idea about your trading strategy.

Don’t trade forex all the time. Trade forex only at good opportunities available in the market.

A trader who knows the World’s best trading strategy and skills will always loss money if he forget to follow money management.

Money management is very important part than trading knowledge. you should have to place correct volume lot size depend on your trading account balance.

You Should not mix your Emotions with your trading knowledge.

If you keep learning the trading from Forexgdp team for a long time, your trading knowledge will overtake your emotions and you will become a Successful trader soon.

About Us

FOREX GDP was started by 17 years Experienced Forex Traders team who are worked with Major banks, Financial Institutions and various Forex brokers as Forex Trader, Fund Manager, MT4 Administrator, Forex Dealer and different positions in Forex Trading Companies. We provide this Education service to help people around the world to understand Forex Market in easy way. Click here to join now

Analysis

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